Social Security recipients will soon receive the largest increase in their monthly benefits that they’ve seen in seven years. The U.S. Social Security Administration announced today that beneficiaries will receive a 2.8 percent cost-of-living adjustment, or COLA, next year….

Last week, the Social Security Administration announced a 2 percent bump in Social Security benefits next year, the largest raise for retirees since 2012 (remember last year’s increase was a mere 0.3 percent and the year before that there was no adjustment imputed)....